Toronto-listed Electra Battery Materials Corp has secured a C$5 million grant from Natural Resources Canada to support development of its proprietary battery materials recycling technology.
The company aims to accelerate its hydrometallurgical black mass recycling project to demonstrate the process is scalable, profitable and can be implemented at other locations.
It has batch processed more than 40 tonnes of black mass since June last year.
CEO Trent Mell said the new funding was a “clear signal from the government of Canada of its ongoing commitment to creating a strong, sustainable EV supply chain”.
“While recycling critical minerals is part of our business strategy, we also remain focused on the construction of our cobalt sulphate refinery and look forward to updating the market with funding developments to restart construction.
“Our recycling project is part of the growth plan for the refinery complex and we are thankful for this investment as it allows us to speed up the development of our proprietary battery metals recycling technology.
“Electra’s black mass recycling expertise can contribute to the production of clean, secure and ethically sourced materials for the EV supply chain in North America.”
Electra Battery Materials Corp also received a $5 million government grant in February this year for development of its planned US$60 million copper sulphate refinery. The company has secured long-term copper feed for the plant to meet offtake commitments to LG Energy Solution from next year.
